US real gross domestic product grew at an annual rate of 3.5% in the third quarter, according to the second estimate of GDP growth released today by the US Commerce Department. The new estimate is unchanged from the previous estimate.

The general picture of economic growth remains the same; upward revisions to nonresidential fixed investment and private inventory investment were offset by downward revisions to personal consumption expenditures and state and local government spending.

Real GDP for the US increased 4.2% in the second quarter.

MarketWatch’s poll of economists had forecast third-quarter GDP would revised up to 3.6% annual rate. The economy exploded in the spring and summer, propelled by tax cuts, strong consumer spending and rapid business investment. The unemployment rate also fell to a 48-year low of 3.7%. Growth is unlikely to be as strong in the fourth quarter of 2018, MarketWatch reported. Economists predict the US will expand at a 2.7% pace in the fourth quarter, while some see even slower growth.